Mr. Frank Daly:

The board has responsibility. While the board is satisfied with what is happening and is balancing everything, the Deputy is making many hypothetical arguments. I do not want to come across as being defensive on this but believe we have a fairly balanced regime in place. It is rigorous and onerous. If there were a cooling-off period of 12 months, for example, one could not interfere with somebody's right to work without actually paying him during the period in question. Taxpayers might have another question to ask, through Deputy McDonald or another Deputy, if there were people in NAMA sitting at home for 12 months while being paid by the agency. The board balances and considers all these factors.

We are now in a space where we are comfortable with what we have. I can assure the Deputy that it is something we pay a lot of attention to and which is reviewed and monitored regularly.